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Showing posts from July, 2015

Choosing Right Payroll Service Provider

If you are going to choose a payroll service provider, it’s time to decide which one might be right for your company. The small business owners we spoke with said some of the most important factors to consider include the cost, ease of use and customer service support. One way to help determine the right payroll service for you is to make sure you are asking the right questions.Payroll experts that we interviewed told us that before making a decision,you should ask potential payroll service providers a number of questions,such as:           How long have you been in business.       How often are your tax tables updated for compliance? ·          Do you have other clients in my industry? ·          How important will my business be to your company? ·          If I have a question or concern, whom do I go to? ·          What's the structure of your customer service department? ·          Can you integrate with my employee benefits offerings? ·          How c

Fight against payroll fraud

Brooks Consulting Private Limited, the payroll services in India comes up with a new topic payroll fraud. This is one of the major frauds which exist in Payroll Processing. You should aware about such discrepancy. It is one of the top sources of accounting fraud. Payroll Fraud actually happens in 30 percent of Businesses. It occurs mostly in small size organizations with less than 200 employees rather than big corporate.       Anyone can do payroll theft at any point of time. We cannot prevent it, but   it is possible to catch such theft. There are mainly two types of payroll fraud. One is time card falsification. Second one is “ghost employees” and the third one is Employee misclassification. Employers cut down the salaries of employees and added in their own accounts. It is known as time card falsification.   In   the office , when you notice that any employee is paid more than his/her salary and employee is fictitious then you are witnessing payroll fraud. It is  

Why do you need a payroll service provider?

Multi State compliance is a common issue with payroll service providers. Processing the benefits and payroll services at a same time becomes critical because each employee has its own record. Compliance is the rules, regulations or standards a company need to follow defined by Ministry of Labour and Employment and state. Companies face multi-state compliance issues when their employees cross state lines for their jobs or have multi state operations. There is also an issue of minimum wage difference. Wage varies widely from one state to another. Ministry laws do not preempt state laws so that in many cases employees need to pay tax in both states on the same income. During payroll processing, they cannot apply same strategy for all employees. Overtime is paid 1.5 times more than the standard pay for hours worked beyond 40 hours in a single week. Some states do overtime calculations on daily basis setting 8 hour as benchmark. Overtime compensations are pre-empted by laws of emp